Olly, 30, announced the news to anticipated fans as part of a Google Hangout last night (29 October).
The former Xtra Factor host also announced his lead single will be called 'Wrapped Up', featuring Gym Class Heroes vocalist Travie McCoy.
Never Been Better, which is the follow-up to 2012's Right Place, Right Time, will also feature a duet with US songstress Demi Lovato!
Not content with two announcements, Olly confirmed that his fourth album will be supported with a new tour in 2015.
Giving fans a look at the album artwork, Olly said on Twitter last night: "Mouth is very dry lol but awesome hangout guys! Big thanks.... Wicked announcing ALBUM / SINGLE #NeverBeenBetter."
Never Been Better is due for release on 24 November.
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Watch Olly's video for 'Dear Darlin' below: